OREANDA-NEWS. On 26 June 2008 was announced, that Annual General meeting of Shareholders of the JSC “The Seventh Continent” took place. Key proposals of the Board of Directors were approved by the shareholders.

On the date of the meeting responsibilities of the CJSC “The Seventh Continent – RT” as acting CEO of the Company expired.

According to the decision of the Anuual General meeting of the Shareholders the new Board of Directors was appointed consisting of: Alexander Zanadvorov, Vladimir Karnaukhov, Galina Iliyashenko, Mikhail Naidishev, Nataliya Slepenkova.  Also two new members joined BD: Boris Morozov – CEO of CJSC “7K invest-holding” and  Igor Soglaev – Managing Director of investment company “Ust-Capital”.

The decisions of shareholders completely correspond with main strategic priorities of the Company: strengthening of the current position, multiformat regional expansion, real estate project development, increasing share of the owned spaces, further profitability and operational efficiency improvement.

At the same day the new Board of Directors made their first meeting.

The Board of Directors appointed Stepan Kovalchuk as new CEO of the Company; Galina Iliyashenko became the Chairman of the Board of Directors.

Brief biography of the CEO of JSC “The Seventh Continent”

Kovalchuk Stepan Vasilievich

Chief Executive Officer

Place and date of birth:

19.05.1971, Russia, Sahalin region, Oha

Education:

1994 - Graduated Moscow State Technical University n.a. N.E. Bauman (MSTU)

1997 - Graduated Moscow State University of Economics, Statistics and Informatics (MESI)

Previous positions:

2007- 2008 – Deputy CEO of the CJSC “The Seventh Continent – RT”

2000-2007 - JSC "Sobinbank", last position First Deputy Chairman of the Governing Committee.